Sunday, 8 August 2010

Nivasie houses for Sri Lankan housemaids to suit their purse

A new housing scheme catering to Sri Lankan housemaids who work abroad is being introduced by Nivasie Developers (Pvt.) Ltd. a fully owned subsidiary of International Construction Consortium Ltd. (ICC).
Herman S. Gonsal, Managing Director /CEO of the company said most of these housemaids work hard to look after their families and one of their dreams is to own a house of their own here in Sri Lanka. The main problem they faced is that their savings from working overseas are not sufficient to build a house.
Nivasie Developers will step in to complete even a section of the house for them to suit their financial situation, he said. He noted that they can complete the house part by part after they have settled in a small section with one room and a kitchen. Nivasie will undertake the responsibility of completing the house, he added.

(Source: Sunday Times)

Thursday, 5 August 2010

Major Ceylinco assets worth over Rs.42 billion to be sold to repay depositors

Major assets of failed Ceylinco companies including the Ceylinco Celestial residencies tower, Kollupitiya ,Trillium Residencies, Celestial Towers .the Pioneer Tower in Fort, and the Ceylinco E.N.T. hospital Narahenpita all valued over Rs. 42.6 billion are to be sold  soon to expedite the repayment of disgruntled depositors on a supreme Court order. A   US Real Estate company, subsidiary of failed Ceylinco Shriram group will also be liquidated and returned  all Ceylinco funds to Sri Lanka . A civil case has been filed at the Columbia Civil Court to liquidate the Ceylinco Real Estate holdings LLC USA which is a subsidiary of  Ceylinco Shriram group, A senior official of the Attorney General’s Department said.

(Source: Sunday Times)

Sunday, 1 August 2010

Land acquisition: Lankan families wait for more than 25 yrs for compensation

Some Sri Lankan families whose land have been acquired for road development have been waiting for more than 25 years for compensation while payments owed to 42,000 affected families is estimated at Rs 8.6 billion, a top government official said on Tuesday.
Highways and Road Development Ministry Secretary Admiral Wasantha Karannagoda, speaking at the launch of the Asian Development Bank (ADB) guide for "Designing and Implementing Redress Mechanisms for Implementors of Transport Projects" in Colombo, said that he had recently brought this to the attention of the Sri Lankan President. He also requested the ADB to consider helping the government rectify this issue so that Sri Lanka could continue its road development plans unencumbered by past debts or "start from zero".

(Source: Sunday Times)